The amendment to the Foreign Trade Policy(FTP)for the year 2004-09 I announced on the 7th April 2005,point towards employment generation,a push to the small and medium industries,simplification of procedures and reducing of transaction costs.The Hon'ble Minister for Commerce,Mr.K.Kamalnath and Mr.K.T.Chacko,Director General of Foreign Trade deserves praise.However,I had expected the Policy to be more broad-based as the Policy does nothing to give Indian Exporters the competitive edge with the Great Dragon China,is breathing down our necks and beating us practically in all fields on pricing.The Chinese prices at times nearly 30%-40% below prices.This is not possible without violating WTO norms on subsidies for which there is no monitoring mechanism.
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